Miami-Dade’s housing market extended its sales recovery in July, with total home transactions rising 8.6% year over year to 1,935 closings. It was the 11th consecutive month of annual sales growth, according to July 2026 statistics released by MIAMI REALTORS® + RWorld.
The report also shows a market becoming more divided by property type. Single-family homes remain in seller-favorable territory as available listings contract sharply. Condominiums are selling at a faster annual pace but still carry 12 months of supply, leaving buyers with more negotiating leverage.
Miami-Dade is now on pace for its highest annual total of home transactions since 2024.
Sales growth reaches an 11-month streak
Miami-Dade recorded 1,935 total home sales in July, compared with 1,782 during the same month last year.
The increase was spread across both major housing categories:
- Single-family home sales: 909 transactions, up 5.6% year over year
- Condominium and townhouse sales: 1,026 transactions, up 11.4%
- Total home sales: 1,935 transactions, up 8.6%
Condominiums accounted for roughly 53% of all reported sales during the month, while single-family homes represented approximately 47%.
The figures cover existing homes reported through the MLS. They do not include much of South Florida’s new-construction, pre-construction and condo-conversion activity, which is typically reported separately from MLS transactions.
Inventory falls for six consecutive months
The most significant shift in the July data was on the supply side.
Miami-Dade ended the month with 15,599 active listings, down 15.1% from 18,377 listings a year earlier. Total inventory has now declined for six straight months.
The drop was especially pronounced among single-family homes:
- Single-family inventory: 4,275 listings, down 22.8% year over year
- Condominium inventory: 11,324 listings, down 11.8%
The reduction in supply is changing the negotiating environment for buyers. Fewer single-family listings mean that well-priced homes can attract more competition, particularly in neighborhoods with strong access to employment centers, schools, transit and waterfront amenities.
Single-family homes had 4.8 months of supply in July. In standard real estate market measurements, that level is considered a seller’s market. A balanced market is generally associated with six to nine months of available supply.
The data does not mean every single-family listing is moving quickly. Pricing, condition, insurance costs and location continue to influence results. But the overall direction is clear: buyers have fewer available houses to choose from than they did a year ago.
Condo sales improve, but buyers retain leverage
Existing condominium sales increased 11.4% year over year to 1,026 transactions. That was the stronger of the two major housing segments in July, and condo sales have now risen annually in nine of the past 11 months.
However, higher sales volume has not eliminated the supply overhang.
Miami-Dade’s condo market ended July with approximately 12 months of inventory, firmly within buyer’s-market territory. That gives purchasers more time to compare buildings, review financial documents and negotiate price and terms.
The condo market is also facing structural pressures that do not apply equally to single-family properties. Higher insurance premiums have increased ownership costs for many buildings. Construction and repair costs remain elevated, while updated reserve requirements are forcing associations to plan more aggressively for major structural work.
Those expenses can influence monthly assessments, financing eligibility and the total cost of ownership. Buyers evaluating a condo are therefore looking beyond the unit itself. Building reserves, insurance coverage, pending assessments, maintenance plans and lender requirements can all affect whether a property is financeable and financially sustainable.
The July report noted that well-managed condominium buildings with strong reserves are performing better than properties facing unresolved financial or maintenance issues. That distinction is likely to remain important as buyers become more selective.
South Florida Digest previously examined this divide in “Are South Florida Condos Bad Investments Right Now? The Truth About Miami’s Split Real Estate Market”.
Luxury sales outperform the broader market
Miami-Dade’s $1 million-and-above segment posted one of the month’s strongest gains.
Sales of homes priced at $1 million or more increased 15.5% year over year, rising from 341 transactions in July 2025 to 394 in July 2026.
The increase underscores Miami’s continued appeal to high-income households, business owners, executives, investors and international buyers. It also reflects the depth of demand in a region that continues to attract companies, wealth and high-paying jobs.
The luxury category is not insulated from broader market conditions. Financing costs, insurance, property taxes and longer decision timelines can affect high-end transactions. But cash purchases and substantial buyer liquidity can reduce the impact of mortgage rates in this segment.
The report also identified a 12.6% increase in condo sales priced between $400,000 and $500,000, suggesting that demand is not limited to the top end of the market.
Prices show a split between houses and condos
The July data also pointed to a widening difference in price performance.
The median single-family home price in Miami-Dade increased 3.79% year over year, from $660,000 to $685,000. Single-family prices have risen in 173 of the past 176 months, according to MIAMI REALTORS®.
The median existing condo price declined 1.48%, from $406,000 to $400,000. While that represents a modest annual decline, Miami-Dade condo prices have still appreciated substantially over the long term, rising 252% since 2011, according to the report.
The price contrast reflects the difference in supply conditions. Limited single-family inventory is supporting prices, while elevated condo supply gives buyers more room to negotiate. In practical terms, sellers of single-family homes may have greater pricing power, while condo sellers may need to compete on price, building quality, fees and terms.
Home sales generate $249 million in local economic activity
The housing market’s impact extends beyond agents, sellers and buyers.
Miami-Dade’s 1,935 July closings generated an estimated $249 million in local economic impact, according to the MIAMI REALTORS® report. The estimate includes real estate commissions and fees, moving expenses, furniture purchases, remodeling, related services and the broader circulation of income tied to a home sale.
Total Miami-Dade residential dollar volume increased 6.2% year over year to approximately $1.9 billion.
The single-family segment generated about $1.3 billion in dollar volume, a 16.53% annual increase. Condo dollar volume totaled approximately $707 million, down 8.45% year over year.
The difference between sales growth and dollar-volume growth reflects the changing mix of transactions and price performance across the two segments.
Distressed sales remain near historic lows
Only 0.2% of Miami-Dade’s closed residential sales were distressed in July, including bank-owned properties and short sales.
That is a sharp contrast with the aftermath of the housing crisis, when distressed transactions accounted for approximately 70% of Miami sales in 2009. In July, short sales represented 0.4% of sales and real estate-owned properties represented 0.1%, according to the report.
The current level indicates that most homeowners are not being forced to sell because of default or foreclosure. Despite elevated borrowing costs and higher ownership expenses, the market is not showing the widespread financial distress associated with the last housing downturn.
What the July data means for buyers and sellers
For buyers, the market requires a more targeted strategy.
Those shopping for single-family homes should expect tighter competition and fewer choices. Pre-approval, fast decision-making and realistic pricing analysis may be important when a suitable property reaches the market. Buyers should also account for insurance availability and projected carrying costs before making an offer.
Condo buyers have more leverage, but the additional time should be used for due diligence. Reviewing association budgets, reserve studies, insurance policies, special assessments, building inspection reports and lender requirements is essential. A lower purchase price does not necessarily mean a lower long-term cost.
For sellers, the property type matters. Single-family owners are operating in a market with declining inventory and 4.8 months of supply. Condo owners face a more competitive environment, particularly when a building has high fees, limited reserves, pending assessments or financing restrictions.
The broader message from July’s numbers is not that every part of Miami real estate is moving in the same direction. Instead, Miami-Dade is showing sustained demand alongside increasingly selective buyers and sharply different conditions between houses and condominiums.
With sales up for an 11th consecutive month and inventory falling for a sixth, the market is positioned to close 2026 with its strongest annual transaction total since 2024. For more coverage, follow South Florida Digest’s real estate section and stay connected to the latest developments across Miami-Dade and the wider region.
